Are you interested in learning how to bet with Bitcoin? How do you create a Bitcoin wallet and fund it? How do you deposit funds into a Bitcoin bookmaker account? This detailed guide to Bitcoin betting will answer those questions and many more, teaching you how to buy Bitcoins, how to bet with Bitcoin and how to withdraw your winnings. First, lets answer the how to make money betting Bitcoin question.
The rapid rise of Bitcoin technology has lead to significant changes in many online services. Bitcoin betting is one of them. The low fees, the anonymity and the opportunity to move funds almost instantly are among the main reasons Bitcoin betting is becoming so popular as the number of bettors ready to bet with Bitcoin increases.
What is needed to make money with Bitcoin?
The first step is to fully understand what is bitcoin betting and how it works. We suggest checking our article on the topic of what is bitcoin betting and you will learn everything you need to know. The next step is creating a bitcoin wallet. It’s needed so you can buy bitcoins and then use them to fund your sportsbook or casino account. The following article – How to get a Bitcoin wallet? – will explain the whole process of creating a wallet at Coinbase.
After you get a wallet and fund it, it’s time to pick a sportsbook or an online casino. Doing a simple google search will give you several names that are leaders in the industry at the moment. However, we suggest checking out the Coinbet24 Bitcoin Sportsbook & Online Casino. They offers tons of markets, good odds, and special bonuses that are oriented towards Bitcoin.
Register an Account
Once everything mentioned above is taken care of, it’s time to create an account at a bookmaker. The process is simple and straightforward, regardless of which bookmaker you choose. We can safely say that this is the most important step of learning how to make money betting bitcoin.
We won’t go into too many details for this step, as it is identical to the registration at traditional bookmakers. Choose the Bitcoin sportsbook you like and sign up. Usually, the information required is very limited: an email address, date of birth and password only. This means you can stay anonymous and players from all over the world can open an account, even restricted countries such as the USA.
Fund the Account
The main point is to get your Bitcoin address from the sportsbook, then go to your wallet and send money to it. After that, you need to go back to your wallet in Coinbase (or other service you’ve chosen). Go to the Coinbase website and log in to your wallet. You will see your account page. You have to click on the Send/Request page. This will lead you to the page where you can send money. It contains the recipient’s address on top. There you have to paste the Bitcoin address you’ve copied from the bookmaker. Then choose an amount you wish to deposit and click on “Send Funds”. After that you will see another confirmation screen, just proceed and send the funds.
Choosing a Market and Placing a Bet
The good news is that there’s nothing complicated in this step. Bitcoin bookmakers are no different than the traditional online sportsbooks. You will find a list of sports and events on their website. Just choose the one you need and you will see the market and odds available. You can place your bets with just a few clicks.